Aldar supports nationwide efforts to protect health and wellbeing and promote business continuity

• Series of initiatives targeting retail partners reaching up to AED 60 million with a particular focus on SMEs and start-ups
• AED 60 million allocated to support residential buyers and tenants through market beating home finance products, rent to own units and monthly payment plans
• AED 50 million allocated across education portfolio to support reduction of fees by 20%, provide 10,000 laptops to students, develop online learning platforms
• AED 20 million allocated to various other initiatives including national sanitation efforts and waiving all administrative fees associated with transacting with Aldar
• Aldar among first companies to initiate remote working policy facilitated by digital transformation strategy
• Committed to paying all stakeholders, including shareholders and contractors
• Range of precautionary measures implemented across all assets and communities 

Abu Dhabi : Aldar Properties (“Aldar”) is leading a number of initiatives alongside various measures across its development and asset management businesses that support the nationwide efforts to protect health and wellbeing and promote business continuity. The measures highlight Aldar’s commitment to its employees, business partners, residents, parents and the wider community.

These initiatives are in addition to Aldar’s AED 190 million programme aimed at supporting residential communities, schools, retail partners and home buyers. 

Commenting on the company’s efforts, Talal Al Dhiyebi, CEO of Aldar, said: “The world continues to face a unique set of circumstances that call for sustained leadership, collaboration, solidarity and unity. The scale of what we are witnessing is unprecedented and transcends borders, so it is a time for us to all work together for humanity, to emerge stronger and more connected. Our Government’s response has been unmatched and inspiring, and we commend their relentless efforts to ensure the health and safety of everyone in the UAE and their support to those most in need across the world. As an industry leader, Aldar is committed to playing a strong supporting role in the national response to this pandemic.  

“As a responsible real estate business, our priority is to preserve the health and wellbeing of our employees, customers, residents and the communities we serve. Our employees are our greatest asset and over the past few weeks, they have shown a tremendous amount of dedication and productivity, by leveraging the advanced technology and systems we have in place and ensuring we deliver on our promises seamlessly. We have also been communicating regularly with our various stakeholders to keep them informed of our efforts to ensure a safe environment and a robust, sustainable business. In the coming period, we will continue to adhere to the guidance from the UAE Government, health authorities and the World Health Organisation by staying home, staying safe and doing everything we can to minimise the impact on our people, our community and our economy.” 

AT THE FOREFRONT OF DIGITAL TRANSFORMATION

Aldar was among the first private sector organisations in Abu Dhabi to implement a remote working policy. Given the company’s commitment to digital transformation, the appropriate systems were put in place in a timely manner, which facilitated a smooth transition to a new way of working.

Talent development continues to be a key priority for the business with employees undergoing regular online training sessions from home. Aldar employees also have access to an online wellbeing platform and have the possibility to sign up to live sessions with health authority professionals.

Aldar was also the first company in Abu Dhabi’s private sector to host its Annual General Meeting as a video conference meeting, after receiving the necessary approvals from Abu Dhabi Securities Exchange (ADX) and the Emirates Securities and Commodities Authority (ESCA).

On the education front, Aldar Education has made an investment of AED 10 million toward technology and infrastructure to facilitate distance learning programmes and to cover for devices that were purchased and distributed to families who did not have the tools to deliver distance learning to their children. As schools across the UAE were gearing up for home learning, Aldar Education implemented an innovative e-learning programme, which had already been a year in the making, to facilitate distance education anywhere, anytime. The programme is being utilised across its network of 18 schools, which caters to over 20,000 students across the Emirate, to ensure continuity of classes until the end of the 2020 academic year.

Aldar Education is also supporting other schools in Abu Dhabi to further develop their distance learning programmes and shared a wealth of class content and resources with detailed lesson guides and assessments on a range of subjects. Furthermore, Aldar Education has provided Office 365 refresher training to over 1,000 teachers and has offered to extend the same level of support and training to teachers beyond its portfolio.  

Across Aldar’s retail portfolio, a major focus has been on connecting residents to retailers through delivery and virtual personal shopper programmes using customised offering and free delivery. As an example, Yas Mall has launched a new ‘We Shop For You’ service for Abu Dhabi residents. This innovative solution offers a virtual shopping experience for all essential items available from Carrefour and pharmacies, and will widen to include the entire Yas Mall retail offer.

PRIORITISING HEALTH, SAFETY AND WELLBEING

Aldar was also among the first companies to lead on a range of precautionary measures in the workplace, in its developments and communities and across all its assets.

The robust measures that Aldar has implemented aim to instil the highest levels of safety and hygiene by installing thermal cameras, conducting individual temperature checks, providing adequate personal protective equipment and resources such as masks and surgical gloves and reducing the number of employees in line with the latest physical distancing directives. Hand sanitisers across all Aldar properties (retail, residential, corporate, hospitality) were installed early on and disinfection and sanitation activities across all assets and touchpoints continue to be conducted on a regular basis.

Aldar is also working closely with its contractors to ensure all staff accommodation has adequate isolation measures, is rigorously sanitised and regularly inspected, and has the appropriate cleaning and disinfection protocols in place.

DEDICATED TO ITS CUSTOMERS & COMMUNITIES

With an allocation of AED 60 million and in partnership with leading financial institutions, Aldar is supporting homebuyers with market beating finance options to purchase homes in some of the most sought-after destinations in Abu Dhabi. The offer enables buyers to benefit from a fixed rate of 1.99% for three or five years with no application or valuation fees in Yas Acres, The Bridges, Mamsha and Jawaher (Terms and conditions apply, offers are subject to bank approval).

Aldar is also providing tenants of its over 5,000-unit residential portfolio with monthly payment plans to support and ease rental commitments until the end of 2020.  In line with its commitment to digital transformation, Aldar has made virtual home tours available for its customers.

Supporting the families of its students, Aldar Education introduced a 20 percent reduction in school fees and a refund of all payments made toward catering and transport expenses in Adar Academies and Cranleigh Abu Dhabi for term 3 of the current academic year. It is also launching an ‘all in this together’ fund to support students’ families who are expected to be significantly impacted financially by the current circumstances. Aldar has also committed to providing parents of students within the Aldar Education portfolio with monthly payment plans to help ease school fee burden for the current academic year.

Additionally, Aldar is allocating an AED 20 million to various other initiatives including national sanitisation efforts and waiving all administrative fees associated with transacting with the company, including transfer fees and late payment fees applicable during 2020.

Awareness campaigns and regular communication updates with residents and tenants across Aldar’s residential and commercial communities continue to be widely disseminated by Provis and Khidmah, Aldar’s property and facilities management subsidiaries.

Working alongside Aldar’s procurement team, contingency plans have also been developed to minimise the impact on facilities management services and continuity of the supply chain.

SHOULDERING THE RESPONSIBILITY

In line with its commitment to shouldering the responsibility and supporting the UAE Government and health authorities’ response,  Aldar has made available over 2,000 rooms across its portfolio of hotels for individuals required to remain under observation while undergoing quarantine protocols. In addition to this, Aldar has made over 100 rooms available for medical professionals. All non-essential hotel staff are working from home while those who remain on site continue to receive regular training and guidance on the precautionary measures they need to take while performing their duties. Physical distancing guidelines are also being adhered to by all hotel employees.

Earlier this month, Aldar announced that its employees contributed AED 1 million to the ‘Together We Are Good’ programme launched by The Authority of Social Contribution – Ma’an. The campaign is designed to encourage financial and in-kind contributions from individuals and companies to support the community and promote social responsibility. Aldar has also partnered with Ma’an to launch the GCC’s first social impact bond, Atmah, aimed at supporting the employment of people of determination with an initial commitment of AED 2 million.

Aldar has also contributed AED 5 million to an initiative launched by Sandooq Al Watan to distribute 10,000 laptops to school and university students in line with the Ministry of Education’s distance learning programme. The initiative will ensure students are able to continue their education journey and acquire the knowledge and skills they need to be the next generation of leaders. This forms part of a contribution of AED 50 million dedicated to its education portfolio.

ACCOUNTABLE TO STAKEHOLDERS

In light of the recent government directives in relation to mall closures, Aldar introduced a series of initiatives targeting its retail partners across the portfolio reaching up to AED 60 million, with a particular focus on SMEs and start-ups. That has manifested itself in helping the immediate needs of many of Aldar’s tenants and initially prompted the implementation of a rent suspension on 24 March.

As a specific example of how support is currently being rolled out, Aldar Retail signed an agreement with Zomato enabling its F&B outlets to benefit from their delivery option and marketing platform while Aldar will be absorbing all costs. The service with Zomato will include 50% off with a AED 30 cap at the weekend and free delivery during the week, as part of the launch programme.

All these efforts complement existing initiatives Aldar has in place such as the Manassah entrepreneurship competition where Aldar will support the UAE’s ambitious retail and F&B entrepreneurs. Based at Mamsha Al Saadiyat on Saadiyat Island, it supports young people who are developing innovative businesses in three areas - retail, cafés or restaurants. It is Aldar's first retail start-up programme in partnership with startAD, the global accelerator based in NYU Abu Dhabi.

Aldar has played a leading role in the emirate wide malls reopening committee, taking guidance from the government and advising on the range of precautionary measures and safety precautions needed to ensure the health and safety of shoppers prior to any re-opening. 

At Aldar’s Annual General Meeting in March, shareholders approved the recommendation of the Company’s Board of Directors to distribute AED 1.14 billion as cash dividends (14.5 fils per share) for the financial year ended on 31 December 2019, representing 4% growth on 2018’s dividend, marking the eighth consecutive year of growth in Aldar’s dividend.

Aldar has also committed to paying AED 4 billion to its contractors, suppliers and consultants in 2020.

-Ends- 

For further information, please contact:
Media
Nick Farmer
Aldar Properties
+971 2 810 5555

Joudi Issa / John Greenway
Brunswick
+971 2 234 4600
ALDAR@brunswickgroup.com 

About Aldar

Aldar Properties PJSC is the leading real estate developer in Abu Dhabi, and through its iconic developments, it is one of the most well known in the United Arab Emirates, and wider Middle East region.

From its beginnings in 2005 through to today, Aldar continues to shape and enhance the urban fabric of the UAE’s Capital City in addition to other key areas of the Emirate.

Aldar develops exciting and innovative projects, such as the internationally recognized HQ building situated in the Al Raha Beach development, the Gate Towers in Shams Abu Dhabi on Al Reem Island, in addition to Yas Island’s F1 circuit.

Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH), and is a profitable, cash generative business that provides recurring revenues, and benefits from a diverse and supportive shareholder base. Aldar operates according to high standards of corporate governance and is committed to operating a long term and sustainable business in order to provide ongoing value for its shareholders.

Aldar seeks to create quality, comfortable, desirable destinations that enrich the lives of Abu Dhabi residents as well as tourists within the Emirate. Aldar is playing a leading role in the development and provision of world class retail - Yas Mall, international standard education through Aldar Academies, iconic entertainment venues such as the Yas Marina Circuit, and community amenities across its entire portfolio.

Aldar is driven by a vision to be the most trusted and recognized real estate lifestyle developer in Abu Dhabi and beyond.

For more information on Aldar please visit www.aldar.com

© Press Release 2020